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Does listening to music help you focus?

October 31, 2022

Things that should be on your radar this month 👀

1. Medibank is the latest Aussie business to be targeted by cybercriminals, and it’s raised questions about the rigour of the country's cybersecurity practices. Here’s how to protect your business from cybercrime.

2. The federal budget didn’t have much immediate support for small businesses, but plans to implement policies that address the skills shortage will benefit business owners in the long run.

3. A massive harbourfront business precinct in Sydney was given the green light this month, and it’s being hailed as Australia’s Silicon Valley.

4. The government has announced plans to crack down on Australian businesses that are avoiding tax.

5. Power prices are forecast to rise even higher over the next two years, and while there’s some talk of government intervention, it’s absolutely worth building higher energy costs into your cash flow forecast.

Tech recs to build authentic connections with colleagues and clients

🎥 JumpOn: This app gives your team access to always-on live video channels; perfect for remote teams who want to have an impromptu chat or who are missing watercooler convos.

🌮  Taco: Although the Project Alfred team is still small enough that hard work never goes unnoticed, we love the idea of using digital tokens (like a Taco) to recognise your colleagues who are doing a good job.

🗣 Videoask: Some things are just easier to explain through video, and this plugin lets you record a video and embed it almost anywhere to explain almost anything.

The highs 📈  and lows 📉 of small business life

📈 This month, Liam jumped on a flight to Fiji for a much-needed break. It’s one of the reasons we started our own business in the first place; the freedom to work where, when, and how we want to.

Liam only opened his laptop when he really wanted to though, which was made possible by having a reliable business partner in Amy. Essentially, it was a trip that reinforced everything good about being a business owner, and made us feel confident about the stage Project Alfred is at right now (plus, Liam had no complaints about the tropical beaches).


📉 We recently bit off a little more work than we could chew – we agreed to help with two major projects that were running simultaneously and underestimated how much work would go into both.

This meant we were under the pump for a few weeks, and spent quite a few late nights at our laptops (we even spent a Friday afternoon working instead of celebrating our week at the pub *faints*). We’re usually pretty good at setting expectations for our clients, but this last month taught us that we need to get better at setting our own expectations of how much work we can realistically manage while still looking after ourselves.

Productivity hacks 👩‍💻

  • What music do you listen to when you need to concentrate? Apparently there’s a formula for the perfect focus playlist – a study found that both lo-fi and instrumental music improve memory and boost productivity. Our office playlist *almost* fits the brief; we’re usually listening to slightly more upbeat music from artists like Flume, Avicii, or ODESZA and we find the higher tempo keeps us motivated.
  • With so much uncertainty in the market, it’s a good idea to think about overhauling your cash flow management. It’s one of those jobs that may take you a while now, but could save you a massive headache in the future. Start out simple by following these three tips, and call an accountant if you feel like you need a bit more help.
  • This hack feels like a no brainer, but since trying this we’ve been *so* much more productive: If you’re struggling to stay motivated on a task, just move on to something else.

    Finishing successive tasks builds momentum, and nine times out of 10 we’ve got the motivation to take on something larger once the ball is rolling. It’s a kind of productive procrastination that ends with you getting everything done – we highly recommend it!

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We were disappointed that we didn’t see more support for small business in the recent federal budget. While it’s great that there'll be some investment into mental health and wellbeing, we think it’s also important to address the root cause of why this investment is needed in the first place. In our circle of business owners, we know quite a few people who are feeling the pinch of rising costs, are having difficulty hiring, and needing to spend more time than ever on their business.  

If you’re starting to feel the pressure from your business challenges, consider booking some time to have a comprehensive chat with your accountant. We know, they’re probably not top of your list of people to call when you’re feeling anxious, but they’re likely to have some practical steps you can take to alleviate some of that pressure.

That's just our two pennies' worth.

- Liam and Amy, co-founders of Project Alfred

(changing the way people think about accounting)

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